On August 25, Minister of Construction Tran Hong Minh and a Vietnamese delegation visited Korea Land and Housing Corporation (LH), which plays an important role in implementing South Korea’s policies on land management, urban and industrial infrastructure development, social housing and rental housing.
The Vietnamese delegation and LH exchanged experience in planning, land development, investment mechanisms and long-term capital mobilisation for public housing, as well as the development and operation of social housing, identification of eligible beneficiaries and post-investment housing stock management.
Minister Tran Hong Minh also spoke highly of LH’s experience in land development, new urban areas, smart cities, green urban development and other modern urban models. These are areas in which Vietnam seeks to strengthen cooperation and exchange experience amid accelerating urbanisation.
He welcomed South Korean businesses to continue exploring investment opportunities in Vietnam, particularly in green urban development, smart cities, social housing and infrastructure.
On the same day, Minister Tran Hong Minh and the delegation visited the Seoul Transport Operation & Information Service (TOPIS), where they were introduced to the city’s integrated traffic operation centre and its systems for collecting, connecting and analysing data and applying digital technologies to urban management.
Minister of Construction Tran Hong Minh and the Vietnamese delegation visit the Seoul Transport Operation & Information Service (TOPIS).
According to Minister Tran Hong Minh, smart urban development involves not only the application of individual technologies but also innovation in management methods and the development and integration of databases to improve forecasting, optimise the management of land, housing and infrastructure, and provide more comprehensive urban services.
On August 26, Minister Tran Hong Minh held talks with Kim Yun-duk, South Korea’s Minister of Land, Infrastructure and Transport (MOLIT), focusing on cooperation in housing, urban development and digital transformation in urban management.
The talks took place as cooperation between the two ministries continues to expand following the establishment of the Vietnam-South Korea Comprehensive Strategic Partnership in December 2022.
South Korea is currently Vietnam’s largest foreign investor, second-largest provider of official development assistance and third-largest trading partner, according to the original report.
In housing and urban development, the two ministries have maintained cooperation through training programmes, policy exchanges and infrastructure support, while many South Korean businesses are involved in new urban development projects in Vietnam.
During the talks, Minister Tran Hong Minh proposed that MOLIT continue sharing experience with Vietnam’s Ministry of Construction on social housing, public housing and rental housing policies, particularly investment procedures, rental housing management and mechanisms for mobilising long-term capital.
In urban development, he called for continued technical assistance from South Korea in smart cities, green growth and climate-resilient urban development. He also proposed greater sharing of experience in urban planning and management, data governance, digital technologies, and the development and operation of digital twins for urban management.
Minister of Construction Tran Hong Minh holds talks with South Korean Minister of Land, Infrastructure and Transport Kim Yun-duk.
The two sides also discussed the grant-funded ODA project, "Technical Assistance to Strengthen Climate-Responsive Urban Development Management Capacity through the Development of Vietnam’s Urban Planning and Development Information Management System" (UPIS).
Based on the project’s results, Minister Tran Hong Minh proposed that South Korea support research and implementation of a new phase for 2027-2030, with a view to expanding the system to rapidly urbanising cities that are highly vulnerable to climate change and face urgent digital transformation needs.
Concluding the visit, Minister Tran Hong Minh said the meetings in South Korea had provided Vietnam with valuable practical experience, particularly in public housing management, rental housing development, long-term financing for social housing, and the application of digital technologies and data systems in urban governance.
The outcomes will provide practical references for Vietnam’s Ministry of Construction as it continues to improve policies on housing, the real estate market and urban development, while deepening cooperation with MOLIT and contributing to the Vietnam-South Korea Comprehensive Strategic Partnership.
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